Human Music Premium
David Greenstein@davidgreenstein
+0.1%
since Oct 9
The idea
I believe real, human made music gets scarcer and more valuable as AI generated tracks flood streaming, so this take owns the two places that value lands: song owners who get paid on streams and AI licensing, and live venues that AI simply can't replicate. Most of the weight sits with song rights, which behave like steady, rent-like income, while live venues and the concert promoter get smaller slices since ticket spending can soften and the promoter faces an unresolved legal overhang. It keeps a small cash buffer and avoids concentrating in any single company.
What it owns
- Companies that own recordings and songwriting rights get paid when human music is streamed or licensed to AI tools. · Warner Music GroupIt owns recorded music and songwriting rights from real artists, earning money when people stream the real thing and when AI companies license it for training., Sony GroupIt owns one of the biggest songwriting catalogs and a major label, so more value on human-made songs flows to it., Reservoir MediaIt buys catalogs of songs by real songwriters and collects on them for years, creating slow rental-like income from human-made music.54%
- Live events in iconic rooms cannot be replicated by artificial intelligence, and venue operators retain direct revenue from ticket and food sales. · Madison Square Garden EntertainmentIt owns famous venues where people pay to see real performers in person, which AI cannot recreate., Sphere EntertainmentIt sells in-person shows that cannot be replicated on a screen at home, but the position stays small because it depends on a single building filling seats.28%
- The largest company putting on tours benefits if fans pay more to see real artists, but pending court penalties keep the position small. · Live Nation EntertainmentIt puts on tours worldwide and runs Ticketmaster, so more spending on seeing real artists live lands here first, but pending court penalties create uncertainty.10%
- Cash8%